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Pizza Pier Issues 7%, 10-Year Bonds with a Face Amount

question 37

Essay

Pizza Pier issues 7%, 10-year bonds with a face amount of $80,000 for $74,564 on January 1, 2012. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31.
1. Record the bond issue.
2. Record the first interest payment on June 30, 2012.


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A formal written or spoken statement, especially one given in a court of law.

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The knowledge or skill acquired by a person through direct involvement in or exposure to events or activities over time.

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Information, facts, or data supporting or disproving a claim, theory, or argument.

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Details that identify a source of information or ideas, typically used in academic or research contexts.

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